Four Departments Call for More Support for Diversified Investment and Financing for the Building of Practical Training Bases

Chinese version
Four departments, including the National Development and Reform Commission ("NDRC"), have recently issued the Implementation Plan on Providing More Support for Diversified Investment and Financing for the Building of Practical Training Bases (the "Plan").

The Plan sets forth the overall requirements of focusing on two types of practical training bases, namely the practical training bases featuring the integration of industries and education and the public practical training bases, adopting the combination of "subsidies, loans and bonds", persisting in the principle of "overall planning of policies, joint development of resources, and openness and sharing", making comprehensive use of multiple instruments, including the investment covered by the central budget, financial input from local governments, development-oriented finance, bond financing, and solicitation of private capital, taking various measures to widen ways for investment and financing, and instructing local governments and enterprises in different sectors to establish all-round and close collaboration with occupational schools and institutions of higher education on significantly strengthening the development of practical training platforms and practically boosting the capability of offering practical training opportunities to future technical and skilled talents. To this end, the Plan outlines three tasks of building "practical training bases featuring the integration of industries and education, dominated by schools", "practical training bases featuring the integration of industries and education, dominated by enterprises", and "public practical training bases, dominated by the government". Furthermore, the Plan clarifies policies on subsidies to investment, credit loan financing policies, bond financing policies, among other supporting policies.